Kwmg LLC Acquires 6,599 Shares of Sealed Air Co. (NYSE:SEE)

Kwmg LLC increased its position in Sealed Air Co. (NYSE:SEE) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,182 shares of the industrial products company’s stock after acquiring an additional 6,599 shares during the quarter. Kwmg LLC owned about 0.07% of Sealed Air worth $4,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Sealed Air by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 16,853,598 shares of the industrial products company’s stock valued at $553,809,000 after buying an additional 92,114 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Sealed Air by 2,549.6% during the 4th quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock valued at $195,720,000 after buying an additional 5,138,700 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Sealed Air during the 4th quarter valued at approximately $86,410,000. Earnest Partners LLC grew its holdings in Sealed Air by 16.3% during the 3rd quarter. Earnest Partners LLC now owns 2,159,920 shares of the industrial products company’s stock valued at $70,975,000 after buying an additional 302,099 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Sealed Air by 7.4% during the 3rd quarter. Northern Trust Corp now owns 1,863,751 shares of the industrial products company’s stock valued at $61,243,000 after buying an additional 128,830 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. William Blair reaffirmed a “market perform” rating on shares of Sealed Air in a report on Thursday, May 2nd. Truist Financial reiterated a “buy” rating and set a $44.00 target price on shares of Sealed Air in a research report on Monday, June 17th. StockNews.com upgraded Sealed Air from a “hold” rating to a “buy” rating in a research report on Monday, June 10th. Mizuho upgraded Sealed Air from a “neutral” rating to a “buy” rating and increased their target price for the company from $36.00 to $50.00 in a research report on Thursday, June 6th. Finally, Wolfe Research initiated coverage on Sealed Air in a research report on Friday, March 1st. They set a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Sealed Air presently has an average rating of “Moderate Buy” and an average target price of $44.90.

Sealed Air Trading Down 0.6 %

Shares of NYSE:SEE traded down $0.20 on Wednesday, hitting $35.56. 337,963 shares of the company’s stock were exchanged, compared to its average volume of 1,542,680. Sealed Air Co. has a 12 month low of $28.50 and a 12 month high of $47.12. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 3.21 and a beta of 1.35. The business’s 50 day simple moving average is $36.26 and its two-hundred day simple moving average is $35.82. The company has a debt-to-equity ratio of 7.49, a current ratio of 1.33 and a quick ratio of 0.80.

Sealed Air (NYSE:SEE) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.25. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.28 billion. Sealed Air had a return on equity of 94.93% and a net margin of 6.61%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. Analysts anticipate that Sealed Air Co. will post 2.89 EPS for the current fiscal year.

Sealed Air Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.25%. Sealed Air’s dividend payout ratio is currently 32.13%.

About Sealed Air

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.